Business Insurance
U.S.-based data analytics firm Verisk Analytics Inc.'s unit Property Claim Services Inc. has designated the 7.0-magnitude earthquake, which shook the Turkish region of Izmir on Oct. 30, as a catastrophe.
Posted: Nov 05, 2020
A report by Australia-based analytics consulting firm Finity Consulting Pty. Ltd. said that the COVID-19 pandemic, natural disasters and tumultuous financial markets have hit the local insurance industry's profitability hard.
Posted: Nov 05, 2020
Super Typhoon Rolly that hit the Philippines on Nov. 1 has caused 5.8 billion Philippine pesos ($120 million) worth of infrastructure damage.
Posted: Nov 05, 2020
Lloyd's reinsurance broker MNK Re Ltd. is set to acquire a majority stake in South African counterpart Prospect Brokers Africa (Pty.) Ltd.
Posted: Nov 05, 2020
A report by U.S.-based A.M. Best Co. Inc. said that the COVID-19 pandemic is unlikely to have a significant impact on the underwriting performance of Japan's nonlife insurers over the short to medium-term.
Posted: Nov 05, 2020
Lloyd's of London plans to limit the operations of its underwriting room in response to the second lockdown, which begins on Nov. 5 and will last until Dec. 2.
Posted: Nov 05, 2020
Total onshore U.S. insured losses from Hurricane Zeta are estimated to be between $3 billion and $5 billion, according to Newark, California-based catastrophe modeler Risk Management Solutions Inc.
Posted: Nov 04, 2020
A man who lost sight in one eye in a workplace accident failed to show that he should be entitled to supplemental earnings benefits, an appellate court held Thursday.
Posted: Nov 04, 2020
The California Division of Workers Compensation announced Tuesday that minimum and maximum temporary total disability rates will increase Jan. 1, 2021.
Posted: Nov 04, 2020
The Securities and Exchange Commission said Tuesday it has awarded more than $28 million to a whistleblower whose information led to successful enforcement action.
Posted: Nov 04, 2020
Axis Insurance, the specialty insurance unit of Axis Capital Holdings Ltd., has added three lead underwriters to its U.S. cyber and technology team, Pembroke, Bermuda-based Axis Capital said in a statement Wednesday.
Posted: Nov 04, 2020
Hub International Ltd. has bought Stalco Insurance Ltd., a Canadian broker that specializes in the agricultural insurance sector.
Posted: Nov 04, 2020
An administrative law judge of the Occupational Safety and Health Review Commission on Tuesday affirmed a repeat citation issued to a construction company for failing to provide fall protection to a worker.
Posted: Nov 04, 2020
Two movie producers in trouble with mob debt cast an elderly actor in an action-packed film and aim to accidentally kill him in a film stunt, all to collect insurance money.
Posted: Nov 04, 2020
Missouri’s highest court on Tuesday refused to consider Johnson & Johnson’s appeal of a $2.12 billion damages award to women who blamed their ovarian cancer on asbestos in its baby powder and other talc products.
Posted: Nov 04, 2020
Swedish insurer Folksam AB has accidentally leaked private data of around one million customers to technology firms.
Posted: Nov 04, 2020
Spain-based insurer Mapfre SA's premiums slid nearly 12% year-over-year to €15.6 billion ($18.2 billion) in the first nine months of 2020, due to the COVID-19 pandemic.
Posted: Nov 04, 2020
Indian insurers have paid a compensation of 6.6 billion Indian rupees ($89 million) for damage to an Air India Express plane that crashed in August.
Posted: Nov 04, 2020
Oman-based Al-Ahlia Insurance Co.'s shareholders have approved its merger with Saudi Arabia-based Gulf Union Cooperative Insurance Co.
Posted: Nov 04, 2020
Dominican Republic-based natural gas supplier Coopegas' key executives have been arrested for negligence that led to an explosion at its propane station in Licey, in October.
Posted: Nov 04, 2020
Insurer Croatia osiguranje dd's overall gross written premiums fell 4% year-on-year to 2.6 billion Croatian kuna ($400 million) in the first nine months of 2020.
Posted: Nov 04, 2020
Hurricane Eta hit Nicaragua near the port of Puerto Cabezas on Nov. 3 and caused widespread damage.
Posted: Nov 04, 2020
Austria-based Vienna Insurance Group AG has purchased Latvia-based BTA Baltic Insurance Co. AAS.
Posted: Nov 04, 2020
October’s most popular Off Beat story featured the possible king of all bizarre insurance commercials. A story on a police chief moonlighting as a pinup model was No. 2 for page views for the month.
Posted: Nov 04, 2020
Posted: Nov 03, 2020